Final exam economics Assignment Example | Topics and Well Written Essays - 750 words

Final exam economics - Assignment Example --True 37. The â€Å"Swedish model† of providing maximum income security was a major factor in causing Sweden’s GDP per capita to increase relative to that of other European countries and the U.S. after the 1960s and 1970s. --True 48. Today, the U.S., with 5 percent of world population, produces 22 percent of world GDP; while Eastern Europe and the former Soviet Union, with 7 percent or world population, produce 6 percent of world GDP. --True 66. Among the factors leading to the decline of the planned socialist economies are lack of technological progress, diminishing returns to capital, inefficiency, problems with incentives, and the complexity of planning. --True 70. Economists believe that differences in initial conditions, policy measures, and environmental factors are important determinants of differences in economic performance among transition economies. --True 99. Although private-sector employment as a percentage of total employment varied widely among transition economies in the early stages of transition, in later stages there has been very little variation in relative private-sector employment.